Have you experienced a shift in your financial status? Perhaps, you are experiencing a temporary loss of income that is making it difficult to repay your debts. Whatever the reason may be, you can find a solution by consulting with an attorney on how chapter 13 bankruptcy in Cabot Ar can help find a more reasonable payment plan for your expenses. It can be difficult to think about losing your home or other assets simply because you are experiencing a temporary change in your finances.
How Chapter 13 Can Help Relieve Your Financial Burden
Chapter 13 bankruptcy in Cabot Ar will allow the person filing for debt relief to arrange a payment plan over the next three to five years with lenders. This allows the person to keep their property and redo the terms of their loan that works with their financial status. If you are facing foreclosure on your home or recently had your automobile repossessed, this type of bankruptcy will provide a way to stop the process of a bank taking your home and returning your car to you. You will be able to make up missed payments over the next few years to help you gain better control of your finances.
Reduce Your Financial Stress by Contacting a Trusted Attorney
It can be very stressful dealing with the numerous phone calls from debt collectors that are trying to gather their money from you. It can be even more frustrating if you cannot find financial relief due to high garnishments on your wages that are being taken out to repay your debt. Chapter 13 bankruptcy lawyer can help you file the right bankruptcy claim, so you will be able to retain your property with a payment plan that works for both you and lender.
